Moneygate has acquired city based IFA Equus Independent Financial Management for an undisclosed sum.
The two firms have been in discussions for eight months and the deal increases Moneygate’s funds under influence by £1bn.
Equus managing director Paul Fife take up the role of Moneygate Greater London divisional director. Equus recently moved to a new 10,000 sq ft premises in Throgmorton Street
Moneygate chief executive Lee Hartley says: “We have been looking for a particular type of organisation to build our London operation around and Equus not only brings an exceptional IFA business to the table but we also benefit from absorbing an especially strong management team.”
Equus managing director Paul Fife says: “We have been planning this transaction for around a year and a half and we selected Moneygate from a range of potential suitors.”
Moneygate Group bought Buckhinghamshire IFA firm Beacon Asset Management in June last year.